Ankara Metropolitan Municipality Maintains Top Credit Rating
In a recent assessment by Fitch Ratings on June 17, 2026, the Ankara Metropolitan Municipality (ABB) once again demonstrated its strong financial standing by maintaining its AAA (tur) national credit rating. This places ABB among the municipalities with the highest credit ratings in Turkey, underscoring its robust financial structure and capacity to finance large-scale investment projects.
Strong Financial Structure and Investment Capacity
The report highlights ABB’s independent credit profile at the ‘bbb’ level, positioning it ahead of other major metropolitan municipalities like Istanbul and Bursa in terms of financial performance. While its international credit rating remains at BB-, Fitch clarified that this is due to the country’s credit rating ceiling, not a reflection of ABB’s financial health.
Fitch Ratings commended ABB’s strong budget performance, low debt ratio, and high cash reserves, which collectively create a solid foundation for financing critical transportation, infrastructure, and urban development projects. The report further noted that the municipality’s fiscal discipline and institutional management capabilities facilitate access to long-term and cost-effective funding from international financial institutions.
Secure Debt Indicators and Future Outlook
Despite an anticipated increase in debt stock between 2026 and 2030 due to extensive investment programs, the report projects that debt indicators will remain at secure levels according to international standards. Long-term borrowing, maintaining strong liquidity, and effective management of the investment-financing balance are identified as key priorities for the municipality.
The report also acknowledged that a significant portion of ABB’s revenues comes from tax shares transferred from the central government. It emphasized that efforts to increase own-source revenues would further strengthen the municipality’s financial resilience.
Positive ESG Performance
Fitch Ratings provided a positive assessment of the Ankara Metropolitan Municipality’s environmental, social, and governance (ESG) performance. This strong ESG profile is expected to provide significant advantages for the municipality in accessing green financing, sustainable bonds, sustainability-linked loans, and international climate funds.
The sustained high credit rating is a testament to ABB’s prudent financial management and strategic planning, ensuring its ability to continue delivering essential services and driving urban development for its residents.
